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New Fed interest rate increase is the largest in 22 years — here's what it means for consumers

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Following through on its promise of aggressive action aiming to staunch record-high US inflation, the Federal Reserve bumped its benchmark lending rate .5% this week — the biggest incremental jump in 22 years.

 

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LetsGoBrandon

It means it's time to seriously reduce any debt you have with a variable interest rate.

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Federal Reserve issues biggest interest rate hike in 22 years; Coloradans hope inflation comes downAmericans should prepare to pay higher interest on their loans. On Wednesday, the Federal Reserve raised its benchmark rate in an effort to curb rising prices for things like food, gasoline and even lumber. via CB_Cotton CB_Cotton lol i don't think i'll be paying back loans
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